Purkiss Capital Advisors LLC Acquires New Stake in ONEOK, Inc. (NYSE:OKE)

Purkiss Capital Advisors LLC bought a new position in shares of ONEOK, Inc. (NYSE:OKE - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,919 shares of the utilities provider's stock, valued at approximately $594,000.

Several other hedge funds also recently made changes to their positions in OKE. Charles Schwab Investment Management Inc. lifted its position in ONEOK by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 17,480,774 shares of the utilities provider's stock worth $1,593,023,000 after purchasing an additional 661,854 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of ONEOK in the 3rd quarter valued at approximately $47,957,000. National Pension Service lifted its holdings in shares of ONEOK by 65.3% during the 4th quarter. National Pension Service now owns 1,262,741 shares of the utilities provider's stock worth $126,779,000 after acquiring an additional 498,908 shares during the period. Yaupon Capital Management LP acquired a new stake in shares of ONEOK during the 3rd quarter worth approximately $45,194,000. Finally, Strategic Financial Concepts LLC increased its stake in ONEOK by 10,153.8% in the fourth quarter. Strategic Financial Concepts LLC now owns 494,645 shares of the utilities provider's stock valued at $49,662,000 after acquiring an additional 489,821 shares during the last quarter. 69.13% of the stock is owned by institutional investors.

Analysts Set New Price Targets

OKE has been the topic of a number of research analyst reports. Scotiabank started coverage on ONEOK in a report on Friday, January 10th. They issued a "sector outperform" rating and a $109.00 target price on the stock. Barclays started coverage on ONEOK in a research note on Thursday, February 6th. They issued an "equal weight" rating and a $105.00 price objective on the stock. Citigroup assumed coverage on ONEOK in a research note on Friday. They set a "buy" rating and a $110.00 target price for the company. Truist Financial raised their price target on shares of ONEOK from $99.00 to $107.00 and gave the company a "hold" rating in a research note on Tuesday, December 3rd. Finally, Wolfe Research upgraded shares of ONEOK from a "peer perform" rating to an "outperform" rating and set a $110.00 price objective for the company in a research report on Monday, February 10th. Seven analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, ONEOK presently has an average rating of "Moderate Buy" and a consensus price target of $104.15.

ONEOK Trading Down 2.4 %

OKE stock traded down $2.39 during midday trading on Monday, hitting $98.00. The stock had a trading volume of 1,481,302 shares, compared to its average volume of 3,995,001. The company has a current ratio of 0.81, a quick ratio of 0.59 and a debt-to-equity ratio of 1.59. The business has a fifty day moving average price of $100.91 and a two-hundred day moving average price of $99.29. ONEOK, Inc. has a 1-year low of $75.69 and a 1-year high of $118.07. The firm has a market cap of $61.19 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 3.77 and a beta of 1.70.

ONEOK (NYSE:OKE - Get Free Report) last announced its earnings results on Monday, February 24th. The utilities provider reported $1.57 earnings per share for the quarter, topping analysts' consensus estimates of $1.46 by $0.11. The firm had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.18 billion. ONEOK had a return on equity of 16.84% and a net margin of 14.05%. On average, sell-side analysts predict that ONEOK, Inc. will post 5.07 earnings per share for the current fiscal year.

ONEOK Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $1.03 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $4.12 annualized dividend and a yield of 4.20%. This is a positive change from ONEOK's previous quarterly dividend of $0.99. ONEOK's dividend payout ratio is presently 79.69%.

ONEOK Profile

ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.